Entrepreneurship plays a vital role in accelerating economic growth and development. Economic growth was traditionally attributed to two input factors, namely labour and capital. Later the endogenous growth models included technological advancements and knowledge spillovers that enabled innovation and entrepreneurship to be included in the literature of economic growth. Schumpeter (1934) discussed the relationship between entrepreneurship and innovation with an emphasis on the dynamic processes of "creative destruction" which refers to continuous disruption of the old and existing structures and efficiently allocating those resources for new entrepreneurial ventures and boosting innovation. The extant literature provides evidence of entrepreneurship studies in advanced nations, but less is explored from the emerging and developing nations perspective. In recent years, India has witnessed a surge in the number of existing entrepreneurial ventures and newly formed startups. There also exist significant regional variations within the national boundaries which necessitates the need for understanding the geographical characteristics of the entrepreneurial ecosystems and innovation at a regional level. Therefore, to contribute to the existing research, we propose to identify issues that require further research and analyse the themes found in the various streams of the economic literature on Indian innovation and entrepreneurship in this study. The primary aim of the study is to identify the factors responsible for boosting the competitiveness and performance of the Indian entrepreneurial landscape. Furthermore, we aim to investigate how international technological spillovers through foreign direct investment (FDI) and multinational corporations (MNCs) within the nation facilitate innovation performance. 

Keywords: Entrepreneurship, Entrepreneurial Ecosystem, Innovation, Economic Growth, Regional Economics